Transactions & Cases Detail



Transaction/Case Details

Rayonier Advanced Materials Inc. acquires Tembec Inc. for C$1.1B

DATE CLOSED

November 17, 2017

BUSINESS SECTOR

Forestry & Paper

LEAD OFFICE

Montreal

VALUE

1.1 Billion CAD


OVERVIEW

On November 17, 2017, Rayonier Advanced Materials Inc. ("Rayonier AM") closed the acquisition of Tembec Inc. ("Tembec"), providing the combined company with leading and complementary positions in key high purity cellulose end-uses and diversified earning streams from packaging, paper, high-yield pulp and forest products businesses. The transaction was carried out by way of a court-approved plan of arrangement. 

Tembec shareholders had the right to elect to receive either (i) C$4.75 in cash (the "Per Share Cash Amount") or (ii) 0.2542 shares of Rayonier AM common stock per share of Tembec subject to proration so that approximately 67% of the aggregate consideration is paid in cash and approximately 33% is paid in Rayonier AM common stock.

Rayonier AM is a leading global supplier of high purity cellulose, a natural polymer commonly found in cell phones, computer screens, filters and pharmaceuticals.

McCarthy Tétrault LLP advised Rayonier AM with a diverse team led by Clemens Mayr (M&A) that included Hadrien Montagne, Louis-Charles Filiatrault, Konstantin Sobolevski, Martin Thiboutot, Anastassia Chtaneva, Thomas Étienne, Xin Gao (Corporate), Nathalie Gagnon, Diana Theophilopoulos (Labour & Employment), Cindy Vaillancourt (Environmental), Dominic Thérien, Oliver Borgers, Jonathan Bitran (Competition/Antitrust), Mary Pagonis (Real Property), Simon Potter, Marc Dorion, Jean Charest, François Giroux, George Vegh, Marc-Alexandre Hudon (Regulatory/Court Approval), Christian Meighen, Marie-Soleil Landry, Lorraine Allard, Andrew Haikal and Quentin Lageix (Tax).

This transaction is important because it shows once again the strength of McCarthy Tétrault's M&A practice and ability to work efficiently and in teams to help clients implement their strategic goals.

Contact


 
For general information on McCarthy Tétrault Transactions & Cases, please contact tc@mccarthy.ca.

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M&A
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